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The level (4/8) cannot hold the price

05 May 2015, GBP/USD

4 hours’ chart of GBPUSD. There was no correctional pullback from the strongest level (4/8). The pair has forced it from top to bottom and is trying to consolidate under it now. If the pair succeeds to do so, we can expect a strong decline of the quite with the first probable stop on the level (2/8). The last level is the nearest significant level which can impact on the price.

The level  (4/8) cannot hold the price

Nikolay Krishtopov
FreshForex Analyst
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